Current Refinance Mortgage Rates and Fixed Home Loans at Chase for February 10

Chase (NYSE:JPM), which is an established lender in the U.S., updated its mortgage information for Tuesday, February 10. For the latest information on the lender’s current mortgage interest rates and annual percentage rates (APRs), please check the data below. This bank advertises excellent mortgage rates under both its home purchase and refinance loan programs, so those who are looking to invest either in a new / used home or to refinance an existing mortgage, may find some ideal loan options at this bank.

It should be noted, that the current mortgage interest rates may vary without prior notice from the lender and are subject to change based on location, geography and other terms and conditions. The annual percentage rates (APR) were made based on discount points, origination fees, average loan fees and closing costs.

Switching to mortgage application activity, the Mortgage Bankers Association (MBA) released the results of its latest weekly survey last week. According to the MBA’s data, the Market Composite Index, which measures overall mortgage application activity, edged up 1.3% on a seasonally adjusted basis in the week ended January 30. Loan applications for mortgage refinancing improved 3%, according to the organization’s data. The Purchase Index fell 2%. The refinance share of total mortgage applications sank to 71% from 72%, according to the MBA’s survey.

On the other hand, the share of ARMs dropped to 5.3%. The MBA’s weekly survey also showed, that the FHA share of total mortgage applications soared to 13.1% from the former 9.1% that it carried before. Now, the share of VA loan applications dipped to 8.5%, according to the weekly survey. The share of USDA mortgage applications sank, these type of loans account for 0.6% of all mortgage applications.

The average contract interest rate on the 30-year fixed mortgage headed higher by 4 basis points to 3.79%, according to the MBA. As far as the 15-year FRM is concerned, the average rate is hovering at 3.14%, a decrease of 1 basis point, according to the MBA’s data.

Freddie Mac, which is based in McLean, VA, said last week, that the average rate on the 30-year fixed loan edged down to 3.59% from the former 3.66%. On the other hand, the interest rate on the shorter-term 15-year fixed loan headed lower to 2.92% last week. A week earlier this type of mortgage loan averaged a rate of 2.98%, according to the housing giant.

Bankrate also released its weekly mortgage survey, which revealed that the interest rate on the 30-year conventional loan remained steady at 3.80% last week. The interest rate on the shorter-term, 15-year mortgage improved by 1 basis point to 3.12%, according to the survey. The interest rate on the 5/1 adjustable rate mortgage advanced in Bankrate’s survey, this type of loan is now standing at 3.20%.

For more details on the latest home purchase and refinance mortgage interest rates at Chase, as well as information on borrowing terms and conditions and loan assumptions, please visit the bank’s website.